Kyrgyzstan leads the EAEU in payments via QR codes: volume reached KGS 141.2 billion

Kyrgyzstan has become a leader among the countries of the Eurasian Economic Union (EAEU) in the development of the system of payments and transfers through QR codes. The National Bank spoke about the results of the project on creation of a common payment space based on the national standard of QR codes.

Since the launch of the project in May 2022, the NBKR in cooperation with the interaction operator, banks and payment organisations, has completed the interbank integration of payment systems, making QR codes available for use in any mobile banking application of the country.

As of 1 March, 60.1 thousand QR codes were installed in Kyrgyzstan in trade and service enterprises across the country. 99.7 million transactions totalling KGS 141.2 billion have passed through the system of the interaction operator. A significant part was made up of state and municipal payments for services - 6.4 million transactions for the amount of KGS 4.4 billion.

For further large-scale distribution of QR codes, the NBKR is actively working together with the Antimonopoly Regulation Service and the State Tax Service. Monitoring across the country is being conducted aimed at installation of QR codes of the national standard in retail outlets for acceptance of non-cash payments.

‘Kyrgyzstan today is a leader in the banking sector of the EAEU in the integration and servicing of payments through QR codes’, - emphasised the NBKR.